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Bitcoin back tracks again

Much earlier today Bitcoin managed to hold onto a minor support level at 42,220 and rebound. That rebound started as an update here went out noting the price action. Well, since then the rebound extended, to a high just above 42,800. However, in more recent trading it has come under pressure again and that pressure has now deliver a fall to fresh session lows underneath 42,200. The prior low was set at 42,226. Bitcoin has just now fallen to 41,143 and is still under pressure as I write. I said earlier on; that a failure to reclaim the 21 day moving average ( falling now and at 43,029) could deliver another test of that downside and that is exactly what it has done. The fact that the 21 day moving average is now falling is not an immediate positive either. Bitcoin has just rebounded a bit and it is currently trading at 42,240

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